Green Revolution Startups Aim a Million-dollar Kickstart

Apr 30 , 2024

Ethiopia's fight against waste and the promotion of a circular economy received a 1.6 million dollar boost to empower young entrepreneurs focused on lowering waste generation and promoting environmental sustainability. Reach for Change and the IKEA Foundation have joined forces, launching a three-year project that aims to support reusing, repairing, and recycling materials. Building on a successful pilot project that created over 150 jobs, the new program seeks to empower a total of 105 green businesses. Elsabeth Tsegaye, program manager at Reach for Change said they will receive crucial support, including training, coaching, access to markets, and equity-free funding ranging from 5,000 dollars to 10,000 dollars to help them develop sustainable business models and expand their operations. This initiative comes at a critical time. Ethiopia currently struggles with low recycling rates and underdeveloped markets for recyclable materials. The program recently unveiled finalists from its previous Green Business Incubator, including Husky Energy & Technologies and Askema Engineering. During the launch event held at Hyatt Regency, Africa Avenue (Bole Rd), some of the participating startups showcased their innovative ideas, such as transforming plastic waste into building materials.


Geda Special Economic Zone Receives Prospective Tenants

East African Holding and Ethio-Chicken have been shortlisted to invest in the Geda Special Economic Zone(GSEZ), located in the tri-state area shared by Mojo, Adama, and Shashemene cities within the Oromia Regional State. The two companies were selected from 120 investors who showed interest in acquiring space in one of the largest SEZs in Africa. Close to 404hct of land has already been developed in the expansive economic zone, out of a potential 24,000 hectares, with lease prices set between...


Standard Institute Revamps Fees, Board Restructuring

The Ethiopian Standards Institute (ESI) is set to introduce fees for standards sticker, establish a new governing board, and address collaboration with other regulatory bodies. The Institute plans to strengthen its financial standing by charging fees for standards and product certification services to support its operations and annual budget. A key change involves replacing the current Council of Standards with an 11-member Board of Directors. The Minister of Trade & Regional Integration...


Safaricom Ethiopia Rolls Out its Network to Tigray

With 125 self-built towers, Safaricom Ethiopia has launched its operations in the Tigray Regional State. Executives disclosed plans to invest in an additional 166 towers and expand their reach to the remaining towns. "This is the most exciting milestone in Tigray since the return of social services," said Getachew Reda, president of the Interim Regional State Administration. In July 2021, the consortium-backed telecom giant entered Ethiopia's market, historically dominated by state-owned E...